embezzlement

Vocabulary Word

Definition

Think about 'embezzlement' as a fancy word for stealing, but not just any stealing. It's when someone who's trusted to handle money, maybe for a company or club, takes some of it for themselves.

Examples in Different Contexts

For a nonprofit, 'embezzlement' is a dire breach of trust. The chairperson might announce, 'There has been embezzlement of donated funds, and we are taking legal action.'

Practice Scenarios

Accounting

Scenario:

The latest financial reports show a lot of adjustments. I am worried the books might have been tampered with.

Response:

Are we suspecting embezzlement here? If so, we should secure all financial records before our next steps.

Tech

Scenario:

We have noticed some invoices for services that were never rendered. We need to investigate this.

Response:

Possible embezzlement is a grave concern. Let's conduct a thorough internal investigation.